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Google to purchase Manhattan office building for $2.1 billion

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Alphabet Inc.'s GOOGL, -1.03% GOOG, -0.96% Google said Tuesday that it plans to buy the St. John's Terminal building in Manhattan for $2.1 billion as looks to bolster its presence in New York. The company intends to make the building the "anchor" of its new Hudson Square campus, per a blog post. The company expects the St. John's Terminal transaction to close in the first quarter of 2022, and it intends for the site to be open by the middle of 2023. Shares of Alphabet are up 0.4% in Tuesday morning trading. They've gained 14.3% over the past three months as the S&P 500 SPX, +0.39% has risen 5.1%.

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